Russell 2000 IWM Cup & Handle + Ascending Channel

315
As posted in my previous idea, the Russell 2000 was at strong resistance and if we closed above, we should have a bullish bias until we see a topping reversal pattern. We did close above that resistance and even retested the 50 day moving average, so it is looking bullish for now.

The price has also broken to the top of a cup and handle pattern however we have not had a retest, yet.

The price is also currently at the top of an ascending channel. The price may find some resistance here and go back to retest the cup and handle breakout. If the breakout holds, that gives us a target of ~154.

There is a similar cup and handle pattern of SPY which is also included in my related ideas below.

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.